Ansar Financial, Scarborough, ON

This page provides brief information on the Ansar Co-operative Housing Corporation Ltd. (ACHC) and outlines general highlights. How to become a Member You can become a member of the Housing Co-operative by paying $75.00 Membership Fee plus $600.00 for minimum six (6) shares. # Maintenance of Active Membership You must then buy at least 6 shares of $100.00 each in a calendar year in order to keep your membership active. Shares may be sold through M. A. (minimum of six months of advance notice will be required for amount exceeding $40, 000) or may be transferred / sold directly to another member of the Housing Co-operative. Getting out of Existing Mortgage The Housing Co-operative will help you to get out of "RIBA" by paying off your existing mortgage(s). In order to qualify, you will need shares equal to 10% of your outstanding mortgage(s) balance, invested in the Co-operative for at least six months. Security of Investment Your investment in the Housing Co-operative shares is very secure since the Housing Co-operative retains the legal title of all housing units in its name until all of the required shares are accumulated by the home buyers members.